FLORENCE, Wis. — The Florence County Board decided this week against taking immediate action on selling carbon credits to Climate Trust, stating they would like more time to review the contract.

Climate Trust, a non-profit carbon developer based in Portland, Ore., formed in 1997 with staff working across the country to help landowners access carbon markets. Carbon credits are purchased by companies looking to offset their carbon production.

In Florence County, Climate Trust is proposing a forest management project where it would work with the county on practices for nearly 40,000 acres of forests.

The project would have a 40-year term and would be part of the voluntary carbon market. Over the 40 years of the project, the county could receive an estimated revenue of $6.39 million, most of that coming in the first 20 years. However, through the life of the project the county would be responsible for monitoring and verification costs.

Patrick Smith, administrator for the county’s Forestry and Parks Department, detailed for the board Tuesday an investment plan for funds received from the sale. Smith said at a 3.5% interest rate, the county could eventually earn $9.3 million.

But board members were concerned about the length of the contract and the uncertainty of the carbon credit market.

“Do we know that this program is still going to exist in 20 years? What happens then?” Supervisor Sherry Johnson said.

Smith said there were two options — continue in the program or take a buy out for pennies on the dollar.

Board members also expressed concern about how boards in the future will manage the funds.

“I do not want to get us into a situation where we are in good shape financially for 10 or 15 years and then my kids have to pay for it,” Chair Chad Hedmark said.

The board tabled the proposal Tuesday and will send it to the Forestry and Parks Committee to study the contract and bring a recommendation to the next board meeting.